Emera Incorporated (TSE:EMA) Receives C$74.39 Average Target Price from Brokerages

Emera Incorporated (TSE:EMA) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$74.39.

EMA has been the subject of a number of research analyst reports. National Bank Financial upped their price target on shares of Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Barclays set a C$72.00 target price on shares of Emera and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Desjardins increased their target price on shares of Emera from C$69.00 to C$70.00 and gave the company a “hold” rating in a research note on Tuesday, April 28th. Raymond James Financial raised their target price on shares of Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, TD lifted their price target on shares of Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research report on Monday, May 11th.

Emera Price Performance

Shares of TSE:EMA opened at C$75.56 on Wednesday. The stock has a market cap of C$23.11 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 6.20 and a beta of 0.57. The company has a debt-to-equity ratio of 168.83, a current ratio of 1.07 and a quick ratio of 0.23. Emera has a 12 month low of C$61.63 and a 12 month high of C$76.46. The stock’s 50 day moving average price is C$73.19 and its 200 day moving average price is C$71.06.

Emera (TSE:EMA) last issued its quarterly earnings results on Friday, May 8th. The company reported C$1.37 earnings per share (EPS) for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%.The company had revenue of C$2.81 billion for the quarter. Equities research analysts anticipate that Emera will post 3.1991627 earnings per share for the current fiscal year.

Emera Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a dividend of $0.7325 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.93 annualized dividend and a dividend yield of 3.9%. Emera’s dividend payout ratio (DPR) is currently 89.14%.

Insider Activity

In other news, insider Richard Janega sold 16,500 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the sale, the insider directly owned 19,642 shares of the company’s stock, valued at C$1,458,418.50. The trade was a 45.65% decrease in their ownership of the stock. 0.09% of the stock is owned by insiders.

About Emera

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.